What was the issue price of The Standardx's 2028 Notes?

According to The Standardx's 2025 Franchise Disclosure Document, the company issued $400 million of 4.375% senior notes due in 2028. These notes, referred to as the "2028 Notes", were issued in 2018 at a price of 99.866%.

In practical terms, this means that for every $1,000 in face value of the 2028 Notes, investors paid $998.66 at the time of issuance. The difference between the face value and the issue price represents a discount. This discount is a form of compensation to the investors, in addition to the stated interest rate of 4.375%, for the use of their money.

For a prospective franchisee, understanding The Standardx's debt structure and financing activities can provide insights into the company's financial health and stability. While franchisees are not directly involved in these financing activities, the overall financial strength of the franchisor can impact the support and resources available to franchisees.